Enterprise adoption of the Internet of Things is starting to gain momentum, according to a new report which details key factors driving the increase in IoT deployments.
According to Verizon’s report, the Internet of Things is being fueled by technological, political and social factors that are driving more organizations to adopt IoT-enabled solutions. For example, the use of social media and mobile technology has transformed consumer and citizen expectations.
Also, the declining costs of sensors, connectivity and processing power have made IoT a more viable proposition to a broader set of organizations. Changing regulatory requirements across a number of industries are also making an impact.
“When you look across the spectrum, IoT covers a multitude of solutions, from wearable devices, to remote monitoring of energy management devices to industrial transportation to improve safety and efficiency. New use cases are created every day; however, the business case for IoT and enterprise adoption often gets overlooked,” said Mark Bartolomeo, vice president IoT Connected Solutions at Verizon.
“Within the past year, amid an improving economy, we’ve seen a number of new entrants starting to use IoT as a roadmap to improve their customers’ experiences, accelerate growth and create new business models that are driving societal innovation.”
The report notes that “off-the-shelf” IoT solutions are starting to materialize with greater frequency as a replacement for highly customized solutions, which have historically characterized many enterprise IoT implementations. And a broader IoT landscape brings greater security challenges. Verizon notes that digital certificates can help address growing C-suite and public concerns and meet regulatory demands around IoT and security.